Deliveroo raises AU$140 million in Series D funding

Deliveroo, a UK’s technology-based food delivery startup in Australia has announced it raising AU$140 million in Series D round of funding led by existing investor Greenoaks Capital and new investor DST Global along with other existing investors Accel, Hummingbird Ventures and Index Ventures. This raises the total capital investment in the company to AU$280 million.

Launched in 2013 in London, Deliveroo offers its users ultimate food delivery experience. Unlike other food delivery startups that are fully online marketplaces for takeaway restaurants, Deliveroo join hands with premium restaurants that do not offer delivery, through which the customers get a range of new choices. The ordered meals through their site or mobile app would be delivered in a matter of 30 minutes by their team of drivers and cyclists. The startup’s service is powered by Deliveroo’s proprietary technology and logistics platform.

With the fresh funds, Deliveroo plans to expand further into other international territories like Dubai, Hong Kong, Singapore, Melbourne and Sydney and to establish the company strongly as the number one provider of on-demand high-quality food delivery. Since the start of this year, the daily orders of the startup has increased tenfold and expanded its service to 50 cities across 12 countries. The new funding would allow the company to strengthen the startup’s foothold in the on-demand, high-quality food delivery sector and also ramp up its marketing and hiring activities.

Will Shu, CEO of the Deliveroo said, “This is our first foray outside Europe. We are very much a global company and that’s significant.” He claims that the boom in the premium casual dining across the world in the last 10 years would serve to be at advantage for their company.